© Dukascopy Bank
- Sumitomo Trust & Banking Co. (based on Bloomberg)
пЃ® Industry outlook
Bearish movement of EUR/USD seems to be decelerating while the pair is approaching a support level at 1.2860. However, this level is unlikely to provide sufficient support and therefore is expected to be eventually breached and pave the way to reaching 1.2089.
пЃ® Traders' sentiment
According to SWFX traders' sentiment EUR/USD currency pair remains bullish, as the amount of long positions in the market surpasses the quantity of shorts, constituting 55.22% and 44.78% of the market, respectively.
пЃ® Long position opened
FX market participants have put their take profit orders at the key resistance points of intraday trading. Some of the investors might close their deals at 1.3082 and 1.3128. The highest level is at 1.3171.
пЃ® Short position opened
A part of the brokers will close their short positions near the initial support level at 1.2993. In case of downtrend extension, the pair might rebound from the S2 at 1.2950 or S3 at 1.2904.
© Dukascopy Bank